Borrowers still balancing their books, bankers say

Bankers' association CEO Roger Beaumont says it's great to see people using banking products and services to help stay ahead financially. (Image: NZBA)

Riley Kennedy

Thu, 13 Oct 2022

Consumers are still managing their credit card and home loan debt well, despite the rising cost of finance, says the New Zealand Bankers’ Association (NZBA).Data from the association's 10 retail bank members between January and June show they collectively had 1.25 million home loans across 1.09 million customers, with an average balance of $304,655. Of that, NZBA said nearly 46% of borrowers were ahead on their repayments, up 1.8% compared to the prior six months.Home loansFigures from Statistics NZ in July showed NZ households f...

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